Acquiring wealth and building a successful business takes great skill and personal ambition. Managing your wealth and insuring your legacy likewise takes skill and experience.
The Marcum Family Wealth Services Group is dedicated to helping you manage your wealth, assisting in transferring it to succeeding generations, accomplishing your lifetime objectives, and helping you accomplish your philanthropic goals.
We are professionals with a wide array of talents. We are tax professionals with expertise in personal income tax planning and estate planning. We are accountants who simply make your life easier by handling your day-to-day financial matters by analyzing your expenses and paying your bills.
We provide tax planning and compliance services including the preparation of myriad governmental filings and tax returns. Family Wealth Services can be your family office for all matters. We can also be your professional service provider for just those areas where you need specialized guidance and experience. Marcum also belongs to the Leading Edge Alliance (LEA), an international professional association of independently-owned accounting and consulting firms. LEA provides the Firm and its clients access to the resources of a multibillion dollar global professional services organization.
Whatever the scope, we bring our Firm's most skilled advisers to meet your needs. We are creative, proactive, and caring in our approach. Our advisers have long records of achievement and client satisfaction. Let us work for you.
Marcum Family Office
Increasingly, families are discovering that although their wealth brings many luxuries, it also brings new challenges and increased responsibilities. In fact, some families have created their own fully-staffed offices to handle the complex administrative functions associated with wealth.
Philanthropy Planning
& Private Foundations
Marcum can manage the administrative and back office functions necessary to operate a private foundation, allowing more time and effort to be focused on furthering the organization's charitable mission.
Private Client Tax Services
Our experienced tax professionals are skilled at addressing all levels of complexity with respect to the preparation of business, fiduciary and individual tax returns and related filings.
Trusts & Estates
The estate and gift tax laws are highly complex and specialized. When families and individuals plan for their future, they need to know that their service providers are experienced, highly-skilled and technically superior.
Related News
September 06, 2019
As Seen In
New York Law Journal published an article by Partner Janis Cowhey and Manager Stephenie Yeh, advising attorneys about the importance of clients reviewing their estate plans regularly and updating as necessary.
Not only is it important to have estate planning documents in place, but it is also important to periodically revisit the documents and beneficiary designations. ....
June 24, 2019
Tax Flash
The United States Supreme Court Rules in Favor of Trust
The Court stated that the presence of in-state beneficiaries will not empower a state to tax trust income should the beneficiaries have no right to ....
June 17, 2019
Tax Return Compliance
The Kiddie Tax: Reverting to Prior Law
The kiddie tax was originally created to prevent wealthy parents from shifting income to their children to benefit from their lower tax rate, in order ....
April 13, 2019
As Seen In
The San Francisco Chronicle quoted Regional Managing Partner Jeff Pera in an article about why your 2018 tax bill went up or down.
The sweeping federal tax law that took effect last year, the biggest in more than three decades, left many people shocked, angry and befuddled.
February 18, 2019
Trusts & Estates
Fiduciary Income Tax Planning Utilizing the § 645 Election
Given the possibility of having to file an income tax return for both the estate and the trust, a unique opportunity presents itself to utilize ....
February 13, 2019
As Seen In
Bloomberg Markets Radio invited National Tax Leader Joseph Perry onto the program to discuss the 2019 tax season.
Bloomberg Markets Radio invited National Tax Leader Joseph Perry onto the program to discuss the 2019 tax season.
February 05, 2019
As Seen In
MarketWatch quoted Tax & Business Services Leader Joseph Perry about the lack of IRS guidance on the new tax law, which is complicating on-time filing for individual taxpayers.
Americans are still making sense of the Tax Cuts and Jobs Act, the largest tax-law reform in 30 years. The TCJA was enacted in December ....
Beyond The Numbers - January 2019
Paying for Family and Medical Leave Will Help Employees Handle Life's Challenges and Generate Tax Savings
Among the many changes included within the Tax Cuts and Jobs Act (TCJA), which was signed into law in December 2017, the Family and Medical ....
January 03, 2019
Tax Flash
Form 1099 Filings for Year-End 2018 Due January 2019
Happy New Year to our readers! Now that 2019 is upon us, businesses are gearing up for reporting season.
December 29, 2018
As Seen In
CNBC quoted Tax Partner Carolyn Mazzenga, leader of Family Wealth Services, in an article about the tax advantages of deferring your year-end bonus.
Here's one good reason to hold off on receiving your holiday bonus this year: It's a move that can help you save on taxes.
December 20, 2018
As Seen In
The San Francisco Bay Times featured the 2018 Marcum Women's Forum, keynoted by Chelsea Clinton.
The second annual Marcum Women's Forum - Strength. Health. Influence. - was held on December 6 at the Ritz-Carlton San Francisco.
December 17, 2018
Tax Flash - Tax Return Compliance
Business Interest Expense Limitation under the Tax Cuts and Jobs Act of 2017
Interest deduction rules were significantly amended under The Tax Cuts and Jobs Act signed into law last December 2017. In early December 2018, the IRS ....
December 17, 2018
As Seen In
Bloomberg News quoted Mid-Atlantic Regional Partner-in-Charge of Tax & Business Services Edward Reitmeyer in an article about how to lower your tax bill before the end of 2018.
President Donald Trump pledged that his tax law would kill off breaks and complex loopholes for the wealthy. Instead, the overhaul has ushered in a ....
December 03, 2018
As Seen In
CNBC interviewed Tax Principal Michael D'Addio about year-end giving to take advantage of the increased gift and estate tax exemption.
If the holiday spirit is encouraging you to gift millions of dollars to family members, it's time to start sharing the wealth.
November 07, 2018
As Seen In
Accounting Today announced the availability of the 2018 Marcum Year-End Tax Guide.
Marcum LLP released its 2018 Year-End Tax Guide on Wednesday, providing advice to taxpayers and tax professionals about how to handle the Tax Cuts and ....
November 07, 2018
Press Release
Marcum LLP Releases 2018 Year-End Tax Guide: Reference Tool for Tax Planning
Marcum LLP today released its 2018 Year-End Tax Guide. This year's guide includes 17 chapters discussing how taxpayers are affected by the Tax Cuts & ....
October 21, 2018
As Seen In
The Wall Street Journal quoted Trusts & Estates Tax Partner Janis Cowhey in an article on how to protect your assets after your death.
People usually take great pains to protect their assets from would-be thieves during their lifetimes. But they don't always give a lot of thought to ....
September 25, 2018
Press Release
Three Marcum LLP Partners Honored in Inaugural Notable Women in Accounting & Consulting by Crain’s New York Business
Three tax partners in the New York City office of Marcum LLP were honored in the inaugural edition of Notable Women in Accounting and Consulting ....
September 17, 2018
Tax Compliance
Tracing of Interest Expense Related to Debt-Financed Distributions
When proceeds are received from a loan, there are various tax consequences depending on whether the borrower is the taxpayer or an entity owned by ....
August 30, 2018
As Seen In
The San Francisco Business Times quoted Jeff Pera, regional managing partner, Northern California, about how the new federal cap on state tax deductions is motivating senior executives to relocate.
From CEOs to entrepreneurs to middle-class families, a lot of people have grumbled for years about California's heavy tax burden and high cost of living. ....
August 24, 2018
Tax Flash - State & Local Taxation
Proposed IRS Regulations will Limit Charitable Contributions and State Tax Credits, for Payments Made After August 27
On August 23, the IRS published proposed regulations (REG-112176-18) on the deductibility of state and local tax payments for federal income tax purposes.
July 29, 2018
As Seen In
Newsday asked Melville Office Managing Partner Carolyn Mazzenga about deducting unreimbursed business expenses under the new tax law.
The tax overhaul wiped out the deduction for unreimbursed business expenses. Some companies might choose to ease the burden by setting up plans to reimburse ....
July 27, 2018
As Seen In
The New York Times quoted New Jersey Advisory Services Partner-in-Charge Ilan Hirschfeld about new alimony rules under the new tax law.
Lawyers and accountants often push their clients to plan for unpleasant events. Better to be prepared now than to pay the consequences later. But the ....
July 27, 2018
As Seen In
CNBC spoke with Melville Office Managing Partner Carolyn Mazzenga, also national leader of the Family Wealth Services group, about the long-range tax implications of converting a pass-through entity to a C-corporation.
Lower income tax rates have made incorporation an attractive strategy to some business owners, but accountants warn that entrepreneurs ought to think twice before going ....
July 19, 2018
As Seen In
Advisors magazine interviewed Tax Manager Michael Feinfeld about the proper approach to estate planning.
If pop culture's biggest stars end up with estates that vanish or fail to receive the right attention, then how can the average investor or ....
June 26, 2018
As Seen In
Long Island Business News quoted Tax & Business Services Partner Robert Spielman in a column about common mistakes made by small businesses.
Starting a business is risky business. One in five new companies do not survive the first year, and only about half are still around after ....
June 25, 2018
As Seen In
Financial Advisor interviewed Trusts & Estates Co-Leader Ronald Finkelstein about the use of dynasty trusts to protect assets.
Though President Trump's tax form increases the amount that can be passed to heirs, these thresholds expire in 2025 - if a new federal administration ....
June 25, 2018
Tax Reform
The Kiddie Tax: Changes That We All Need to Know About
Under the Tax Cuts and Jobs Act of 2017, Congress enacted a change to the commonly called Kiddie Tax rules, to prevent parents and grandparents ....
June 04, 2018
Tax Reform
2018 Gift and Estate Tax Changes under the Tax Cuts and Jobs Act: Transfer More Wealth Tax-Free
The Tax Cuts and Jobs Act (TCJA) of 2017 introduced a wide array of changes to most areas of the tax law beginning with the ....
May 16, 2018
Press Release
Hillary Rodham Clinton to Keynote 2018 Marcum Women’s Forum in New York
Marcum LLP today announced that Former Secretary of State Hillary Rodham Clinton will be the keynote speaker at the Marcum Women's Forum in New York ....
May 15, 2018
As Seen In
Bloomberg News quoted Mid-Atlantic Regional Partner-in-Charge of Tax & Business Services Edward Reitmeyer in a story about the growth of dynasty trusts under the new tax law.
Many of the biggest beneficiaries of President Donald Trump's tax overhaul haven't even been born yet. The new law doubles the amount that can be ....
May 07, 2018
Tax Reform
Tax Cuts and Jobs Act: What is the New Qualified Business Income?
The Tax Cut and Jobs Act of 2017 provides for a new deduction for partners, shareholders, and other owners of pass-through entities, known as the ....
April 26, 2018
As Seen In
MarketWatch published an article by Tax & Business Services Manager Michael Feinfeld about common estate planning disasters to avoid.
An approximately $30 trillion transfer of wealth is currently under way in the U.S. as aging baby boomers pass their assets to successive generations. This ....
April 23, 2018
As Seen In
Tribune News Service asked Trusts & Estates Partner Janis Cowhey for advice in an article about the importance of planning ahead for assets that will later be inherited by a child.
Sometimes even families present only enough facts so that it looks like a no-brainer, but you have to consider everyone else's tax implications.
April 15, 2018
As Seen In
A Connecticut Post columnist urged readers to attend a panel featuring Greenwich Office Managing Partner John Mezzanotte discussing changes for high net worth taxpayers under the new tax law.
Due to tax law changes, 2018 presents a different environment than 2017 - but how different? Estate taxes have changed dramatically on both the federal ....
April 12, 2018
As Seen In
CNBC spoke with national Tax Leader Joseph Perry about how to mine your 2017 tax return for savings opportunities in 2018.
This spring, don't just stuff your completed tax return into a drawer. Go through it for savings opportunities you can seize right now.
March 21, 2018
Tax Flash
Farewell to the Offshore Voluntary Disclosure Program: The IRS Pulls the Plug
In spite of its many iterations since 2009 and the 56,000 new taxpayers with their $11 billion added to Internal Revenue Service coffers, on September ....
March 19, 2018
As Seen In
Long Island Business News interviewed Tax Leader Joseph Perry for an article about the new tax treatment of stock options granted to executive employees earning more than $1 million.
While a corporate tax cut that brought the top rate down from 35 percent to 21 percent is widely seen as the centerpiece of the ....
March 13, 2018
As Seen In
Inc. magazine quoted Mid-Atlantic Regional Partner-in-Charge of Tax & Business Services Ed Reitmeyer in an article about errors in the new federal tax law that could cost taxpayers big money.
Many entrepreneurs have celebrated President Trump's signature legislative achievement, the 2017 Tax Cuts and Jobs Act, for decreasing their annual tax bills.
March 05, 2018
As Seen In
Financial Advisor magazine interviewed Greenwich, CT, Office Managing Partner John Mezzanotte for an article about the loss of certain itemized tax deductions under the Tax Cuts & Jobs Act of 2017.
Under the tax reform legislation passed by Congress late last year, several familiar itemized tax deductions have ceased for 2018, such as those for unreimbursed ....
March 02, 2018
Tax Flash - Tax Return Compliance
IRS Releases Updated Withholding Calculator and New Form W-4
Of the many changes enacted by the new tax law some of the most significant impact individuals, such as an increased standard deduction, elimination ....
February 27, 2018
Tax Flash - Tax Return Compliance
FASB's Q&A Guidance on the Impact of Tax Reform on Financial Accounting
After the Tax Cuts and Jobs Act was passed, concerns were raised to the Financial Accounting Standards Board regarding implementation of certain provisions of the ....
February 26, 2018
Tax Return Compliance
New Tax Treatment of Alimony
Of the many changes for individual taxpayers wrought by the Tax Cuts and Jobs Act of 2017, one of the most sensitive is the new ....
February 23, 2018
As Seen In
The New York Times quoted national Tax Leader Joseph Perry in an article discussing the complexities and confusion created by the Tax Cuts & Jobs Act, and the likely battles yet to come in Congress.
Never mind that once in a generation tax bill that just passed last year. Congress is headed for years more of big fights over taxes, ....
February 21, 2018
Tax Flash - Tax Return Compliance
The Impact of Tax Reform on Financial Accounting
On December 22, 2017, the Tax Cuts and Jobs Act, was signed into law. The Act will have a significant impact on financial reporting issued ....
February 16, 2018
As Seen In
Long Island Business News wrote about the advice Marcum panelists gave to businesses considering restructuring as C-corps, during the Firm's recent tax reform seminar in Melville.
Much of the Marcum seminar focused on the taxation differences between C‐corps and pass‐through entities, which include partnerships, S‐corporations, limited liability companies and sole proprietorships.
February 15, 2018
Tax Flash - International Taxation
New IRS Directives Issued for Transfer Pricing Examinations
On January 12, 2018, the Large Business and International Division of the Internal Revenue Service issued five directives which provide instructions on how IRS agents ....
February 13, 2018
Tax Flash - Tax Return Compliance
Bipartisan Budget Act of 2018
The Bipartisan Budget Act of 2018, enacted last Friday, February 9, contains a number of tax breaks for both individuals and businesses. These include the ....
February 12, 2018
As Seen In
The Hartford Business Journal quoted Connecticut Tax Partner-in-Charge Brett McGrath, in an article about the impacts of the Tax Cuts & Jobs Act of 2017.
More than 30 years after digesting the last major federal tax overhaul, Connecticut accountants and legal advisers working to interpret the latest changes to the ....
February 09, 2018
As Seen In
CNBC quoted Tax Principal Michael D'Addio in an article about adjusting paycheck withholdings to comply with the new tax rates for individuals.
In January, the Treasury Department released its income tax withholding tables, updated to reflect changes stemming from the Tax Cuts and Jobs Act. The new ....
February 05, 2018
As Seen In
Bloomberg News quoted Ed Reitmeyer, Mid-Atlantic Regional Partner-in-Charge of Tax & Business Services, in an article about tax strategies for owners of pass-through businesses under the new tax law.
If exploiting a tax loophole is as much an art as a science, then the tax planning profession is poised for a creative renaissance. The ....
January 31, 2018
As Seen In
Workandmoney.com interviewed Tax Partner Diane Giordano for an article about what the new tax law means for small businesses.
The new tax law became both the beauty and the beast for companies of all sizes across the country when 2018 officially opened for business.
January 30, 2018
As Seen In
Fox Business spoke with Tax Principal Michael D'Addio about the need to adjust paycheck withholdings under the new tax law.
As employees begin to receive their updated paychecks based on the new tax code changes, many are seeing incorrect withholding amounts, which could lead to ....
January 30, 2018
As Seen In
Long Island Business News reported on the Marcum tax panel the publication's editor is co-moderating with Melville Office Managing Partner Carolyn Mazzenga.
Long Island Business News Editor Joe Dowd and Marcum Melville Office Managing Partner Carolyn Mazzenga are set to moderate a series of panel discussions tonight ....
January 30, 2018
As Seen In
Bloomberg’s Talking Tax podcast invited Tax Principal Michael D’Addio onto the show for a discussion about whether the new tax law will drive pass-through entities to convert to C-Corporation status.
The new tax law lowers the corporate tax rate to 21 percent—a change that some lawmakers have suggested could prompt pass-through entities to convert to ....
January 29, 2018
As Seen In
Long Island Business News quoted State & Local Tax Leader Paul Graney in an article about options New York State is considering to counter the regional tax impact of the federal Tax Cuts & Jobs Act.
Facing new federal rules that limit state and local tax deductions, New York and California are considering options to give their residents a big federal ....
January 29, 2018
As Seen In
CFO.com published an article by Tax Leader Joseph Perry and Tax Principal Michael D'Addio, discussing the pros and cons of C-corporation v. pass-through entity status under the new tax law.
A 21% income tax rate might sound appetizing to some pass-through entities, but C-corporation status doesn't suit every organization.
January 24, 2018
As Seen In
Associated Press quoted Tax Principal Michael D'Addio in an article about how small businesses are capitalizing on the new tax law.
Although there are still many unknowns about the tax law that took effect Jan. 1, some small business owners have already figured out that they ....
January 19, 2018
Tax Flash - State & Local Taxation
U.S. Supreme Court Will Hear South Dakota's Sales Tax Case
On January 12, 2018, the United States Supreme Court decided that it will hear a South Dakota case (State of South Dakota v. Wayfair Inc., ....
November 19, 2017
As Seen In
Newsday cited an analysis of President Trump's leaked tax return by New York Tax Partner-in-Charge Maury Cartine for NBC News.
The Joint Committee on Taxation, Congress' official nonpartisan budget analysts, reported that a pending Senate bill would give large tax cuts to millionaires while raising ....
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The Marcum 2018 Year-End Tax Guide continues our tradition of providing timely tax guidance for the upcoming year.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.
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